FX Strategists at UOB Group noted EUR/USD could now slip back to the 1.1500 region in the next weeks.
GBP/USD is forecast to maintain the 1.3460/1.3680 range for the next weeks, suggested FX Strategists at UOB Group.
A combination of factors assisted the USD/JPY pair to gain some positive traction during the early part of the trading action on Thursday, albeit the uptick lacked bullish conviction. The risk-on impulse in the markets undermined the safe-haven Japanese yen, which was further pressure after the Bank of Japan (BoJ) slashed its assessment for five of Japan’s nine regional economies.
AUD/USD takes the bids to challenge intraday high to 0.7286, up 0.13% on a day during Thursday’s Asian session.
In opinion of FX Strategists at UOB Group, NZD/USD faces a deeper retracement on a close below 0.6860 in the short-term horizon.
One-month risk reversal on USD/CAD, a measure of the spread between call and put prices, rises for three consecutive days, not to forget posing the strongest bullish bias in four weeks, according to data source Reuters.
USD/CHF trades cautiously on Thursday in the initial Asian trading hours. The pair is in a continuous uptrend since August 30.
CME Group’s preliminary figures for crude oil futures markets noted traders added around 11.8K contracts to their open interest positions on Wednesday, reaching the third consecutive daily build in a row. Volume, instead, shrank by around 104.3K contracts.
Gold prices continue to trade in a broader range of $1,770 and $1,750. The prices recovered from the lower levels as bullish bargain buyers stepped in to buy earlier dip in prices. On the other side, a higher US dollar index, rising US Treasury bond yields limit the gains.